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Labor.pdf - Labor Glossary TERM DEFINITION an organization...

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Copyright © 2019 Edmentum Inc. All Rights Reserved.LaborGlossaryTERMDEFINITIONlabor unionan organization of workers formed to protect and advance the workers’ rightsand interestsstrikes.minimum wagecollective bargainingunemployedlabor marketthe supply of people who are able and willing to work in relation to theemployers who are willing to hire them at a given wageprice floorsurplusmarket valueproductivityoutsourceforeign direct investment (FDI)an investment made by a company based in one country into a company basedin another countryObjectiveIn this lesson, you willWhy Organize?In an economy, the forces of demand and supply __________________ the prices of goods and services.Labor is a ______________ that households supply to firms in exchange for payment, or _______________.When laborers join with other workers to __________________ better pay and working _________________,it is an example of how labor unions work. These _________________ representworkers’ interests on the job.Employers usuallydodo not suggest that labor unions form because unions _______________ wagesthat are above the minimum wage, which is an ____________________ cost to the company.
Copyright © 2019 Edmentum Inc. All Rights Reserved.Labor unions use __________________ bargaining to present their demands. Collective bargaining is a processwhere _______________________ of the union and the company meet to ____________________employment terms, working conditions, and any other _______________________ demands.

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Supply And Demand, labor union

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